American producer Tyler Perry is looking to acquire from Paramount Global the portion of the Black Entertainment Television (BET) network that he doesn’t already own. Paramount is looking to sell its BET’s majority share to focus on its Paramount + streaming service.
The BET Media Group includes the cable channels BET, VH1, streaming service BET+, and BET Studios, the production arm of BET that also has other minority stakeholders.
Viacom (now Paramount Global) acquired BET in 2000 for $2.3 billion in stock and the assumption of $570 million in debt from Robert Johnson, who founded BET in 1980.
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